1988 (5) TMI 13

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....a direction to the Tribunal to state the case and refer certain questions of law said to arise out of the Tribunal's order to this court for its decision. The relevant assessment year is 1978-79. The questions relate to the applicability of rule 2B(2) of the Wealthtax Rules, 1957, and the exemption claimed by the assessee under section 5(1)(xxxii) of the Wealth-tax Act. The Tribunal has decl....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ly, the question of exemption under section 5(1)(xxxii) of the Wealth-tax Act, 1957, requires construction of a statutory provision read along with the Explanation to section 5(1)(xxxi). Accordingly, a question of law arises in this behalf as well. Consequently, this application is allowed and the Tribunal is directed under section 27(3) of the Act to state the case and to refer to this court f....